LONDON--Templeton Emerging Markets IT PLC (TEM.LN) said Friday that chairman Peter Smith has confirmed that he intends to step down from the board later this calendar year.

The company said it has appointed Paul Manduca as a nonexecutive director of the company with effect from August who will take over as chairman when Mr. Smith steps down.

Mr. Manduca is currently chairman of Prudential PLC (PRU.LN) and Henderson Diversified Income Ltd.

-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

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